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The Indian two-wheeler market is one of the largest in the world. However, over the past couple of months, the two-wheeler sales in the country has been witnessing slow sales. Scooter sales in the market, which accounts for over one-third of the total two-wheeler sales in the country has dropped for the first time in 13 years.
Scooter recorded a total of 67 lakh units of sales in FY 2018-19 which is 0.27 percent down on the sales of the previous fiscal year. The last time, scooters recorded a drop in sales was back during FY 2005-06, where it recorded a decline of 1.5 percent sales.
According to reports from TOI, one of the main reasons for the slow two-wheeler sales and decline in scooter sales is the building pressure on the jobs front. This decline is further affected by the pain in rural and semi-urban areas.
Sales of two-wheelers including scooters and motorcycles have been negative since January. Many scooter or two-wheeler brands in the country have even cut down on production and dealer dispatch of two-wheelers, realising this trend. This includes major brands like TVS, Honda Motorcycle & Scooters India (HMSI) and also Hero MotoCorp; the world's largest two-wheeler manufacturer.
Rajan Wadhera, President SIAM, stated that the situation regarding job security is just one of the many reasons for the decline of the passenger vehicle segment in the country. Other reasons also include the upcoming general election season, along with the rising cost of insurance and fuel across the country.
VG Ramakrishnan, Industry Analyst, stated that the impact of jobs/unemployment on the sales of passenger vehicles has been underestimated. Since GST came into play, a number of companies have reduced. This has not only led to unemployment, but also the uncertainty of the job at hand.
However, this has not only affected large metros, but rural markets as well. Many two-wheeler manufacturers have stated that there is now little to no traction left in the rural market for scooter sales. The rural market, accounts to 50 percent of the total motorcycle sales, however, currently brands are struggling to reach the sales numbers.
However, it is not just scooters, passenger vehicles which include cars and vans have also recorded a continuous decline in overall sales in the market — check our latest car sales report for the month of March 2019.
Thoughts On The Declining Scooter Sales In India
Two-wheeler sales, especially scooters has been witnessing a decline for a number of months now. However, this trend is set to keep declining over the next couple of months as well. Unemployment and rural/farmer sentiments are one of the main reasons for the decline. It will be interesting to see how the market will vary once the elections in the country are over.


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Going platinum: Self-made property tycoon worth over $42.6 BILLION is named the wealthiest Chinese person in the world
- Wang Jianlin is the founder of China's biggest private property developer
- Named by Hurun Research Institute as the richest Chinese in the world
- The self-made tycoon is now richer than Hong Kong's Li Ka-Shing
- Wang's company, Wanda Group, is based in Dalian, eastern China
The results were unveiled on August 19 in the Hurun Global Chinese Rich List, compiled by Shanghai-based Hurun Research Institute, reported People's Daily Online.
Hurun has estimated Wang Jianlin's wealth to be US$42.6 billion following the recent flotation of several assets.
World's richest Chinese person Wang Jianlin (pictured) has an estimated US$42.6 billion according to Hurun
The owner of Wanda Group started the company reportedly with just $80,000. It's now worth billions of dollars
Currently, Wang Jianlin is listed as the world's 29th wealthiest billionaire on Forbes with a worth of US$32.4 billion.
But the first edition of Hurun Global Chinese Rich List claims he's worth US$10 billion more.
MailOnline has reached out to Hurun Research Institute for comment.
According to the latest list, Wang Jianlin's wealth has almost doubled since he appeared on the Hurun Global Rich List earlier this year with US$25 billion.
This means Wang Jianlin has overtaken previous title holder Li Ka-shing, a real-estate and energy billionaire based in Hong Kong, who Hurun has attributed an estimated US$32.8 billion.
Wang Jianlin has also toppled Alibaba's Jack Ma from the top spot as China's richest man. Jack Ma, who is the founder of the world's largest e-commerce company Alibaba, is now number three on the rich list.
61-year-old Wang Jianlin is no stranger to the media.
The billionaire has previously been ranked by Forbes as the richest man in China and the 29th richest man in the world.
Wanda Group has majority shares in Sunseekerm the yacht company that made boats for James Bond films
Wang Jianlin's London investment also includes Vauxhall luxury property development One Nine Elms (above)
Wanda Plaza (above) is one of a number of department stores that Wanda Group owns across Chinese cities
According to reports Wang Jianlin owns two private jets, which he uses to travel for meetings around the world
In 1988, he founded Wanda Group in Dalian, eastern China, reportedly with just $80,000.
The conglomerate now owns hundreds of shopping malls, five-star hotels, cinemas and karaoke chains around the world.
Through the company, he has bought majority shares in Sunseeker International Ltd, the British yacht company that made boats for James Bond films.
In the same year, he also made land investments in Vauxhall, south London, where One Nine Elms has now been built.
The total value of these British investments in 2013 were estimated to be $1.6 Billion.
At the time, the outspoken businessman was reported saying 'land prices are much cheaper than in Beijing'.
Outside of the UK, Wang Jianlin has also bought a large stake in Atlético Madrid as well as US cinema chain AMC.
His self-made wealth is even more impressive give his humble beginnings in Sichuan, south west China.
Wang Jianlin joined People's Liberation Army aged just 15, following the footsteps of his father who fought alongside Mao.
After a period working as a bureaucrat, he turned his hand to business.
Wang Jianlin has overtaken Hong Kong magnate Li Ka-Shing (above) in wealth after floating his assets
Alibaba's Jack Ma (above) has also been toppled from the top as the richest man in China. He is now number 3
In comparison, Wang Jianling's son Wang Sicong had a much more easy start to life having been schooled privately in Singapore and the UK.
The 27-year-old founder of private equity fund Pusi Capital is already well-known for his lavish lifestyle.
Wang Sicong recently made the headlines for buying two Apple watches for his pet dog.
Pictures of the dog were shared on Weibo, the Chinese equivalent of Twitter.
He has also previously hired out an entire resort in Sanya, China's answer to Hawaii, to celebrate his birthday.
Hurun Global Chinese Rich List is an extension of Hurun China Rich List, China's equivalent to the Forbes billionaires list.
To qualify for the rich list, individuals had to have amassed wealth of at least 2 billion Yuan (US$320 million).
A total of 1577 people were identified for inclusion on the list. These included individuals living in 18 different countries and regions.
The top 10 of the list was dominated by mainland China and Hong Kong residents.
The mogul's son Wang Sicong is well-known in China for his lavish lifestyle and has a large following on Weibo
Wang Sicong made headlines after buying his dog Wang Keke two Apple watches to wear on its front legs
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domain: news


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Trend watcher Adjiedj Bakas will be the keynote speaker at the Breakfast Briefing during the Marine Equipment Trade Show in mid-November in Amsterdam.
Bakas, an industry consultant and author, is expected to describe entrepreneurship opportunities that the economic downturn has created and highlight openings to transform the economy.
The briefing, co-organized by the International Council of Marine Industry Associations, will be held at 8 a.m. Nov. 16 in the Forum of Amsterdam RAI. The Design Award METS award presentations will follow.
METS runs from Nov. 16-18.


text: Netflix officially launched its personalized profiles Thursday, rolling out the new feature to iOS devices, the Xbox 360 and the PS3 as well as the Netflix.com website and a number of connected devices, including the Apple TV. The feature will allow Netflix subscribers to personalize a total of five profiles per account, which will each offer a separate queue and individual content recommendations. This means that parents will finally be able to separate the recommendations based on their kids’ viewing from their own. Wii users will get access to the feature in mid-August, Netflix’s VP of product innovation Todd Yellin told me during a phone conversation this week. Android tablets and phones will get profiles by the end of the year. Netflix first showed off profiles at CES in January, and has been thoroughly testing the feature since.


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Pick n Pay announced a 27% increase in their online food delivery business when they released their annual results for the year ending March 2014.
According to Pick n Pay they now serve more than 2000 customers per week and have extended the service in the Western Cape, KwaZulu-Natal and the Free State.
This shows that online shopping is becoming increasingly mainstream in South African as shoppers are more likely to turn to the internet to buy goods and services. A recent report by MasterCard showed that consumers purchasing groceries online increased 7% over the past year, with the number of visits to these sites averaging at two per week.
This also shows that people are branching out in the types of products that they buy online. It is no longer just books, DVDs and plane tickets. People are increasingly looking for a wider variety of products.
Pick n Pay said that group turnover increased by 7.7% to R63.1 billion, with a trading profit, up 34% to R1 billion.
There was a marginal decline in ‘other trading income’ due mainly to a loss of commissions on airtime as customers move away from till purchases to digital platforms.
The retailer also announced that it is forming a partnership with MTN to bring a new range of financial services to customers, including low cost banking solutions.
As part of the partnership, Pick n Pay and at MTN will introduce a new sim card enabling customers to earn free airtime and data when they shop at Pick n Pay and Boxer stores using their Mobile Money account.
They will also be able to convert smart shopper points to MTN airtime or data at a discount.


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The Cadillac Fairview Corp. has announced plans to replace the Four Seasons at Pacific Centre with another luxury hotel brand once its longtime tenant vacates the space later this month.
The 370-room Four Seasons Hotel, on Howe near West Georgia streets, has been a mainstay of the downtown Vancouver mall for over four decades. But it will close permanently at the end of January 2020 when its lease expires, allowing CF, Vancouver’s largest commercial property owner, to “welcome a new hospitality and entertainment offering reflective of Vancouver’s current stature as a premier tourism and business destination,” a Wednesday news release said.
tap here to see other videos from our team.
The company has mostly declined to provide details on the new venture beyond confirming that it’s a “world-leading, luxury lifestyle hotel brand.” As for which hotel brand and when it will open to the public, that remains to be determined.
“We’re still working through finalizing a deal,” said CF’s western Canadian director, Tom Knoepfel. “Then we need to determine the level of renovations or modifications that need to be done to the building, so we’ll be working through that schedule, and once we’re able to announce a brand we’ll likely also be able to announce an opening day.”


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30 SECOND GUIDE: REVENUE RECOGNITION
The Daily Mail City team explains this system which helps determine the financial health of a business
Sounds like an eye test
Revenue recognition is a technical accounting term that determines when a firm can officially declare when it receives money for the goods or services it sells.
Is that important?
When a company puts sales on its books determines the financial health of the business.
How much is coming in? Companies can 'book' the revenue when they actually receive the cash on sales
If it sells the products but doesn’t receive payment until the following year then, on paper at least, it will look like the business is doing badly.
When can it happen?
Broadly speaking, companies can ‘book’ their revenues when they receive cash – or something that could be converted into cash such as assets or other payments – and when they complete the sale or transfer of goods or services.
What if that doesn’t happen?
Companies can sometimes play around with revenue recognition to make their financial figures look better.
Any other examples?
It has been alleged that Autonomy, the British software firm, used ‘aggressive revenue recognition’ in the years before it was bought by Hewlett Packard.
It is claimed that it registered a lot of hardware sales as software, making the business look more agile than it was and inflating its all-important growth rate.
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Shares in Dixons jumped more than 8 per cent yesterday, adding more than pounds 500m to the value of the group, on news that it had appointed Credit Suisse First Boston and Cazenove, the merchant banks, to "explore the strategic alternatives available to Freeserve". The options include a potential flotation of a minority stake in the service.
John Clare, Dixons' chief executive, said an independent stock market listing might make it easier for Freeserve to make acquisitions and form alliances with other internet companies.
"For Freeserve to grow and prosper it might be advisable for it to have its own individual paper," he said, adding that Freeserve shares might also appeal to a different investors than Dixons shareholders.
"The core of Dixons is a rather different business which has different criteria for things like return on capital," he said. Freeserve has transformed the Internet industry in the UK since it was launched last September. Already 1.1m regular customers have signed up, making it our largest internet service provider.
The service, which pays for itself through a slice of the local phone call charges racked up by users, has prompted a host of other companies to follow suit. Organisations including British Telecom, Tesco and The Sun have launched their own free Internet services.
The amount of Internet traffic that passes through Freeserve's website has prompted analysts to start viewing the business as a portal - a site used by surfers as a gateway to the rest of the Internet. In the United States, portals such as Yahoo! and Excite have attracted huge valuations in recognition of their ability to sell advertising and conduct electronic commerce.
By comparing Freeserve to US internet stocks, analysts put a value of up to pounds 4bn on Freeserve - more than Dixons' traditional business, which includes the PC World and Currys chains. But Freeserve has yet to show it is able to generate revenues from the traffic to the site. Most of the local call revenues are pocketed by Energis, which provides the physical backbone for the service.
What's more, much of Freeserve's implied value is already reflected in Dixons' shares, which have more than doubled since the service was launched. Yesterday, they closed up 114p at 1564p.
The path to a flotation was laid earlier this year by an internal restructuring at Dixons which separated Freeserve from the rest of the business and gave it its own operating board.
Analysts generally welcomed the move but warned that Dixons should not attempt to raise cash from a flotation. "The fact is it's not theirs to sell. It belongs to the shareholders," one expert said. "And anyway Dixons is already laden with cash."
Other options for Freeserve could include issuing a tracking stock - a virtual share which tracks the performance of the business - or selling the service outright to a US group.
But experts pointed out that any buyer would be likely to want to pay for the business in shares, making a deal less attractive.Reuse content


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Maine-ly Sandwiches claims the title of World’s Longest Lobster Roll in Atascocita
More than 100 feet of freshly baked bread stuffed with Maine lobster, dressing and topped with cracked pepper stretched across the parking lot of Atascocita’s Maine-ly Sandwich.
Starting around 5 a.m. on Saturday, Nov. 15, Maine-ly Sandwich employees started making the lobster filling and baking the bread in effort to create the World’s Longest Lobster Roll.
They used their neighbor’s oven at Johnny’s Pizza which is constantly rotating allowing for all of the bread to bake at the same time.
When they finally constructed the sandwich that included 80 pounds of fresh Maine lobster, Maine-ly Sandwiches’ giant lobster roll measured right around 106 feet long; winning the title of World’s Longest Lobster Roll.
“Breaking the world record feels amazing; it was something that was a long shot to pull it all together,” Maine-ly Sandwiches’ owner Buddy Charity said. “I know how to make sandwiches but it took the whole crew, family and an event planner as well as the public to put this all together and make it a success.”
The Atascocita location of Maine-ly Sandwiches located on West Lake Houston Parkway across from the Kings River subdivision is Charity’s third location and it has been open for around three months.
Right after they opened the Atascocita location, their permit for a food truck for Maine-ly Sandwiches was approved so in total, they have four locations around the Houston area.
Charity first opened Maine-ly Sandwiches on Interstate 45 near State Highway 249 in the Greenspoint area a little over two years ago and they have continued to grow ever since.
Soon after, Charity opened their second location on S. Shepherd in the Montrose area then the Atascocita location and the food truck.
“We are very thankful to our communities and our customers,” Charity said. “At each location, we have regular customers and it means a lot to us when our customers share how much they enjoy our lobster rolls and sandwiches.”
When asked what their secret ingredient is when it comes to their lobster rolls, Charity stated that it was the bread.
“I grew up eating lobster rolls; it’s exciting we get to share this with others,” Charity said. “I’ve never been a part of a world record before so this is something that my kids, grandkids and the community can remember.”
Maine-ly Sandwiches is located at 20669 West Lake Houston Parkway.
For more information, visit mainelysandwiches.com or call 832-644-9721.


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Apple Inc.(NASDAQ:AAPL)’s expected iPad mini will feature only WiFi option. However, there will also be a revised version of the iPad with 4G connectivity option with the Everything Everywhere network of the UK. it would also sport the new ‘Lightning’ connector, as per industry sources of The Guardian.
Rumors have been building up for months that Apple would move into the low-priced tablet market by offering a smaller version of its 9.7 inch iPad that is dubbed as the iPad mini with a screen size around 7.8 inches.
That would rival directly with Nexus 7 tablet of Google, made by Amazon’s Kindle Fire tablets as well as Taiwan’s Asus, both of which fall in the category of 7-inches size.
According to multiple sources contacted by The Guardian, it has been indicate that there might be an announcement of the iPad mini very soon, with retail sources saying that they predict new products in November.
A company, Knomo that designs cases for Apple products said that it would have an iPad mini case ready in a matter of a few days, although there have been no news regarding sending out of invites for any launch event.
On Tuesday, an Australian writer, Sonny Dickson had tweeted pictures of what he called iPad mini. The pictures showed off a device about half the size of a benchmark iPad with a Lightning connector.
The new 8-pin connector that was introduced with iPhone 5 is not compatible with the 10-year old connectors that are used on millions of iPods, iPads and iPhones as well as on several accessories.
Industry sources pointed at The Guardian that they do not imagine to see 3G enabled versions of the iPad mini as that would be to allow Apple to produce comparatively inexpensive and would also restrict the top price for the product, at the same time, retaining the mobile broadband connectivity for its pricier iPad line of products.


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Bunnings selling $1 fake flowers in 160 stores
Bunnings is selling a surprising new home item that has sparked a frenzy – but not everyone has been able to get their hands on it.
When it comes to buying plants, Bunnings is probably your first stop.
But if you’ve got less of a green thumb and more of a, ahem, killer touch when it comes to plants you might be interested in the hardware giant’s new offering.
Bunnings is rolling out the sale of fake flowers nationally after starting in November last year, with the blooms (which you definitely can’t kill) now available in 160 stores.
Bunnings category manager Belinda Rakers told news.com.au they launched the range following the popularity of the store’s artificial hedges.
The product is proving a hit with shoppers, with one woman writing in the Bunnings Mums Australia Facebook group: “Am I the only one who didn’t know that Bunnings sold flowers? Good quality and prices too.”
Her post got dozens of comments, with customers either lamenting the fact that they couldn’t get the fake flowers or keen to get their hands on them.
“A trip to Bunnings costs me even more now,” one person commented.
“Huh. There you go. Now I can just about go to Bunnings for everything. If they can just add an alcohol aisle, a chocolate and chips aisle and a coffee aisle I will be set for life,” another joked.
Others shared pictures of their arrangements using the Bunnings flavours, with one person saying they get “lots of compliments” from their table display.
“I think my arrangement cost about $90 from Bunnings. You’d pay so much more than that from a proper artificial flower shop,” one shopper wrote.
I was shocked to find them here in the Bundaberg store about two months ago. They are good quality and a great selection,” another said.
“I haven’t seen these at my local Bunnings, such a shame. I’d probably end up buying too many anyway,” one mum wrote.
But not everyone was a fan of the artificial blooms, with one person warning you better “like dusting” if you buy them.
“They sell real plants, buy them instead of fake flowers,” another said.
The flowers, which are made from a combination of fabric and plastic and range in size from 30 to 120 centimetres, come in over 200 variations which include bouquets, single stems and native Australian offerings.
“Customers are loving the artificial flowers range as it provides a zero maintenance and forever floral option that looks just as good as the real thing,” Ms Rakers said.
“In the lead up to Mother’s Day we are seeing a lot of customers coming in to create a personalised artificial floral bouquet as the perfect gift for mum.”


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We have the smart phone, the smart home, smart shoes and now the smart ski. Seattle-based K2 Sports has been pioneering ski technology for over 50 years. Some of their latest models have an embedded RFI (radio frequency identification) chip in the skis. The benefit is two-fold. First, a salesperson can use customized tablet software to input the customer’s specifications (height, weight, ski style, skill level and ability) and it will point them to the skis that best suits them. Second, with a smartphone app the skier can input weather and snow conditions and it will match the info with their personal ski profile advising the skier on optimal waxing choices. Read more in the Seattle Times.
Washington State has over 14,000 app and mobile tech development companies. Our pioneering spirit and culture of collaboration continue to keep Washington’s technology community on the cutting edge. The Washington State Department of Commerce is leading a delegation of mobile app developers to GSMA Mobile World Congress in Barcelona in early March.


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Nokia working on own tablet - design chief
HELSINKI (Reuters) - Nokia design chief Marko Ahtisaari is spending a third of his time on creating a tablet for the cellphone maker, which would stand out among hundreds of iPad-challengers, he said in an interview with Finnish magazine Kauppalehti Optio.
"We are working on it," he was quoted as saying.
Nokia's Chief Executive Stephen Elop has said the category is interesting for the Finnish company, but has stressed the need for a different approach to numerous rivals trying to battle against the dominance of Apple's iPad.
"We continue to eye the tablet space with interest, but have made no specific announcements," a company spokesman said on Thursday.
Nokia is widely expected to launch an own tablet using Microsoft's Windows 8 software later this year.
(Reporting By Tarmo Virki; Editing by Helen Massy-Beresford)
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PRINCETON, N.J., Oct. 07, 2022 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (NASDAQ: IART), a leading global medical technology company, will release third quarter 2022 financial results on Wednesday, October 26, 2022, prior to the market open. In conjunction with the earnings release, Integra’s management team will host a conference call at 8:30 a.m. ET.
The live call is accessible by dialing 866-571-0905 and using the passcode 1121226#. A simultaneous webcast of the call will be available via the Company’s website at www.integralife.com.
A webcast replay of the call can be accessed through the Investor Relations homepage of Integra’s website at www.integralife.com. A replay of the call will be available until November 7, 2022, by dialing 866-583-1035 and using the passcode 1121226#.
About Integra LifeSciences
Integra LifeSciences is a global leader in regenerative tissue technologies and neurosurgical solutions dedicated to limiting uncertainty for clinicians so they can focus on providing the best patient care. Integra offers a comprehensive portfolio of high quality, leadership brands that include AmnioExcel®, Aurora®, Bactiseal®, BioD™, CerebroFlo®, CereLink® Certas® Plus, Codman®, CUSA®, Cytal®, DuraGen®, DuraSeal®, Gentrix®, ICP Express®, Integra®, Licox® , MAYFIELD®, MediHoney®, MicroFrance®, MicroMatrix®, NeuraGen® , NeuraWrap™ , PriMatrix®, SurgiMend®, TCC-EZ® and VersaTru®. For the latest news and information about Integra and its products, please visit www.integralife.com.


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Windows Phone Mango coming next week?
Windows Phone Mango was first introduced back in May and was released to manufacturers at the end of July. Since then, 3 different Mango devices have been introduced: the Fujitsu IS12T, the HTC Titan, and the HTC Radar. Mango is rumored to be released at some point in September, although no exact date is known.
Today, Lewis and Ryan Lowdermilk mentioned in their Windows Phone Dev Podcast that Windows Phone 7.5 will be made available to existing Windows Phone 7 devices via an update in their :
Next week is going to be a big week for Windows Phone. We have been told by various sources that Mango will be dropping, and the final tools will be dropping for developers. So that would be interesting and something to look forward to.
The guys over at Windows Phone Dev Podcast have been pretty accurate with info in the past having been the first to leak screenshots of Mango and also correctly predicting the dates of Mango developer betas. Another rumor by a software company indicates that it will be released September 15th, which reinforces this rumor. We will keep you updated on the status of Windows Phone Mango.


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Blizzard (World of Warcraft, Overwatch, Heores of the Storm) and 2K (Borderlands, Mafia, NBA 2K series) has removed the micro-transactions portions from their games: Overwatch, Heroes of the Storm, and NBA 2K18. This is to comply with Belgium and Netherlands’ gambling laws. The countries considers loot box as gambling. 2K’s and Blizzard’s official statement are below.
TL;DR: In Belgium, players can’t purchase MyTeam packs (read: loot boxes) with real money, though they can still be acquired by earning currency in-game. in Netherlands, players will not be able to access Auction House, a feature that allows you to buy and sell your players. (Eurogamer.net) For Blizzard, players can no longer use real money for loot boxes in Overwatch and HoTS.
If you read the statement, 2K and Blizzard disagrees with the banning and believes they are following the law with their initial practices. They actively asked their players to contact the local government to allow their loot box system.
The loot box system is a disgusting and frustrating way to extract more money from players. While more people are growing aware of the unfair practice, there are still many players purchasing loot boxes. Last year, Blizzard earned over $3 billion USD from loot box sales. Often, gaming companies state that loot boxes are to make back the expenses from development.
EU Blizzard Forums
Rock, Paper, Shotgun
This year, governments and countries around the world have been evaluating loot boxes in video games. Discouraged by Gamers, it has become an infamous growth in revenue for video games. Many mobile games and online video games have added loot boxes as a system. Some governments are considering loot boxes as a form of gambling because users rely on chance to earn good in-game items. Recently, the Belgian Gaming Commision has declared randomized loot boxes as a “game of chance” in 3 games: Overwatch, CS: GO, and FIFA.
The Belgian Gaming Commission stated the “games don’t disclose the odds of receiving specific in-game items.” The three games must remove their loot boxes or be in criminal violation of the country’s gaming legislation. The fine is €800,000 and five years in prison for the operators. Clarification on who would face the consequences in the company remains to be determined. If the loot boxes affect minors, the punishment is doubled.
What happens next?
Minister of Justice Koen Geens wants to work with the gaming companies, developers, operators and the Belgian Gaming Commission to determine who should be punished for loot boxes. Belgium is one of the first countries that took a stance against loot boxes in games during the Star Wars: Battlefront 2 controversy. Hawaii, Washington D.C. and several countries are trying to create laws to limit the purchase of loot boxes in games.
Koen Geens – Minister of Justice


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While consumer confidence waxes and wanes, at least one portion of the financial sector is enabling consumers to continue making purchases and keep up against debt. It is the payday loan industry – to be specific, the online payday loans industry – that provides working individuals with financing options.
For millions of working people in the U.K., cash access had been restricted in recent years due to the global recession. This continues to be the case, resulting in strapped finances in a large percentage of households where two incomes have been reduced to one.
Quick quid access is the name of the game. These are online payday loans (example: the U.K.’s own QuickQuid) where the money lands in your bank account in one hour. The time-pressed working person who ten years ago (before the advent of truly accessible online payday loans) would not have gone to a bricks-and-mortar payday loan store can now sign onto the lender website to procure up to £1500 in about five minutes of time on a personal computer.
The borrower might even access this kind of quid whilst on holiday through a mobile device, then access the cash through a bank ATM.
Where does this cash find its way back into the economy? There are several common applications:
- Quick term financing of a purchase or to establish a lease on property or goods.
- Keeping current in bill paying – making due dates so as to bring up a credit score.
- Purchase tickets for travel, when last minute occasions demand a quick trip.
- Emergency purchases or charges, such as when an automobile needs servicing.
According to one economic analyst, these loans are a lynchpin in the economy in that they fix a timing problem for people who lack other forms of credit access. When individuals, working people in particular, can keep bills paid or take up opportunities for investment or travelling at optimal moments, the economy is brought into better shape than it would be otherwise.Google+


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- February 10, 2023
Semiconductor giants are betting big on India
Global chip giants invest in Indian semiconductor fabs, boosting Make in India initiative, with a focus on growth.
Global chip manufacturing giants are betting big on India according to a detailed Firstpost report. In September last year, Foxconn and Vedanata entered into a partnership to set up a semiconductor fabricating plant in Dholera, Gujarat, which is set to become operational by 2024.
While the Foxconn-Vedanta project will see about $19.5 billion dollars being pumped into it, several other chipmaking giants, from all over the world, are also eyeing to set up shop in India’s backyard, in a move that will put the Make in India initiative on the global scale, in an unprecedented manner.
Taiwan’s TSMC is also looking to set up a chip-fabricating factory in India, and is currently speaking to various government agencies to check the viability of setting up factory in India. TSMC already has one of its largest offices outside of Taiwan in India in Bengaluru, Karnataka, from where it provides support to its’ existing customers in Asia, Europe and North America and supports and encourages fabless companies in India in design and growth.
Ever since news N Chandrasekaran – chairman of the Tata group, announced that Tata Electronics (TEPL) will set up an Outsourced Semiconductor Assembly and Test (OSAT) facility in India, there has a been a lot of speculation, according to which, TSMC and Tata may enter into a partnership.
Besides TSMC, Powerchip Semiconductor Manufacturing Corporation, a Taiwanese chipmaker, is also in exploratory negotiations with several Indian companies to help establish new chip operations in the country, as per a report by Taipei Times. According to the newspaper, the memory chip maker’s announcement put an end to six months of speculation that it was planning to invest in India to diversify its operations despite Taiwan’s rising geopolitical tensions.
The report quotes a source as saying that Tata Group was one of the potential partners in negotiations with Powerchip about developing a semiconductor factory.
Apart from TSMC and PSMC, Singapore-based IGSS Ventures and ISMC are also exploring their options in India. According to some reports, the semiconductor consortium ISMC plans to invest over $3 billion in their chip fabrication facilities in India and is close to finalising Karnataka as the location for their factories.
Similarly, Japanese chipmaker Renesas Electronics has already partnered with Tata Motors and formed a strategic partnership to design, develop and make semiconductor solutions, the firms said on Wednesday. Now, they are looking to establish their own fabs in India and make and export silicon chips for EVs to their global customers.
So far manufacturers in a small number of East Asian countries, led by China, Taiwan and South Korea, have supplied most of the world’s semiconductors. Several countries now want to reduce their dependence on global supply chains in critical technologies after the pandemic as well as the sanctions imposed on China and companies that deal with China, in American-patented tech.
However, on December 15, 2021, the Indian government unveiled a semiconductor programme of Rs 76,000 crore aimed at luring semiconductor and display fabs to the nation. In the first round, which ended in February 2022, the government received proposals for three semiconductor fabs and two display fabs. In response to industry concerns, the government changed the plan in September this year to provide a flat 50 per cent incentive to all certified fabs.
It’s not just Asian countries who are looking to set up their factories in India’s backyard. Companies like AMD and Intel are also looking to set up their factories in the country, through their partners. Micron Technology, a USA-based manufacturer of semiconductor devices, plans to invest more than US$41 million to build a new production plant in Hyderabad, Telangana.
The government anticipates significant investments as part of its aim to strengthen funding for new semiconductor and display plants. The current investment forecast is at least $25 billion, according to Rajeev Chandrasekhar, Minister of State for Electronics and Technology.
According to a survey by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research, the country’s semiconductor component business would reach $300 billion in total revenues by 2026.


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'Tis the season for maple syrup, no matter how deceptively summerish it feels in the northeast. What better food to drizzle syrup over than a grilled cheese? Check out this recipe from Closet Cooking:
While I was in Montreal, a friend at Van Houtte coffee suggested something new, a grilled cheese sandwich served with maple syrup and as soon as I heard the idea, I knew that I would have to try it! The sweet and savoury combination often works out well and when you combine two of my favourite things, grilled cheese sandwiches and maple syrup, you are bound to get a winner. Like I needed an excuse to try a grilled cheese sandwich in a new way!
Craig Ramini left his corporate job in Silicon Valley to become a water buffalo rancher and cheesemaker in Marin County, California. Ramini is still early on in the process, but he plans on making mozzarella from his herd of friendly, furry giants.
It was his innate love for big animals that convinced Ramini to leave the corporate world behind.
“There's something about the presence of large animals that gives me a warm, fuzzy feeling,” he said. “I knew that made me happy.”
Ramini's farm will be open for tours during California's sixth annual Artisan Cheese Festival this weekend. Guests will be able to see the water buffalo up close and coo after the new calves.
And now a peek at what life is like for Peter and Louise Dunn, making cheese in France, and raising goats. Not too shabby;
Louise and Peter have been farming goats since 1990. Other farming activities such as pigs and raspberries have come and gone but the goats have stayed. The herd, begun with 35 females and two males from the UK, has now grown to around 70. The Dunns have always farmed organically as a matter of strong principle, whether certified or not. In 2000, when the dairy they were supplying was planning organic lines, they re-registered for organic certification. The dairy was taken over and the plans disappeared in smoke but happily another dairy came along who now buy most of the Dunns’ milk for organic goats’ cheese.
The European Food Safety Authority (EFSA) has published a scientific opinion concluding that protein from goat’s milk is a suitable protein source for infant and follow-on formulae, provided the final product complies with compositional criteria.
To prove their point in a recent dispute over the proportion of goat's, cow's, and sheep's milk in halloumi, Cypriot dairy farmers spilled 15 tons of unused milk outside of the presidential palace this past Monday. Halloumi-producing factories are refusing to accept the farmers' milk until the dispute between the Cypriot government and the EU Commission is solved, leaving tons of milk to spoil.
The 1985 prototype states that the majority of milk used in halloumi must be goat and/or sheep milk, though farmers said this has never been followed - “under the state’s tolerance” - and that the difference has been made up with cow’s milk.
Scientist in Kashmir have successfully cloned a rare breed of cashmere goat, highly valued for its wool. The Washington Post has the story:
The March 9 birth of female kid “Noori,” which means “light” in Arabic, could spark breeding programs across the region and mass production of the high-priced wool, said lead project scientist Dr. Riaz Ahmad Shah, a veterinarian in the animal biotechnology center of Sher-i-Kashmir University.
Cashmere wool, particularly made into shawls, is a major source of income for Kashmir, generating about $80 million a year for the Indian-controlled portion of the disputed mountain state. A shawl can cost $200 in Kashmir and much more when sold abroad — a boon given the average salary of $800 a year for Kashmir’s 10.2 million people.
Against all odds, Anat and Daniel Kornmehl started a goat dairy in Israel's Negev Desert 14 years ago. With an aim to improve the land, and conditions for their animals they've worked with experts to find a "green" way to dispose of the high-fat-content waste water produced by the dairy. Adam Dickter has the story:
The solution they found involves an 18-foot square artificial wetland. Waste water is filtered through plants, then through a layer of coarse sand and another layer of gravel, all about two feet high. The emerging water is then collected and used, for now, to water shrubbery on the grounds.
When the four-year-old project is expanded next year, the Kornmehls hope the recycled water will be used to irrigate the grazing field for their herd. It will not be clean enough, however, for human or animal consumption.
Great article from Pressdemocrat about Vella Cheese Company post Ig Vella. Looks like the fourth generation of the family is grabbing the reins with ease:
“You know, it’s not like I closed a lucrative law practice last June and decided to jump into making cheese. Dad had congestive heart failure in October 2009, and he never came back full time after that. So we had all that time before he died to figure things out. It takes 13 people to run this business. Our head cheesemaker, Charlie Malkassian, has been here 32 years. My son, Gabriel Luddy, in training to be a cheesemaker, has been here 11 years. And I’ve been here 31 years.”
Another great video from Food52, who paid a visit to these beer geniuses, and learned a bit about home brewing:
We cook from scratch a lot here at Food52 -- yogurt, granola, sriracha, ricotta, bread -- but before we met Stephen Valand and Erica Shea from Brooklyn Brew Shop, we'd never considered making our own beer.
It turns out that it's easy with their beer making kits, which contain everything you need but a stock pot, a strainer, and a funnel. The box comes with a gorgeous one-gallon glass fermenting jug, an airlock with plastic tubing to siphon beer into bottles, and one of the Brooklyn Brew Shop's custom grain mixes that have all the grain, hops, yeast, and spices you need to make your own delicious brew.
What’s in Store 2012, the annual trends report from the International Dairy-Deli-Bakery Association, reports that consumer palates are developing, and cheese preferences are going from mild to robust, complex, and flavorful:
Bolder flavors are the hottest cheese trend as consumers venture beyond younger-aged cheeses to more robustly aged and flavorful ingredient-filled cheeses. Artisan cheeses are now flavored quite diversely, with inclusions like truffle, chipotle, wasabi, horseradish, cocoa, saffron, apricot, pear and bacon. Washed-rind and cave-aged cheeses are also popular. Some retailers now even do their own cheese aging.
The top three fastest-growing natural cheeses at retail are manchego, gruyére and gouda.


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Vodafone kicks off UK digital roster review
By Sarah Shearman, campaignlive.co.uk, Tuesday, 14 August 2012 11:42AM
Vodafone UK is calling a review of its digital advertising operations, thought to be worth £10m, which will lead to fewer agencies on its roster.
The network operator will be reviewing its UK digital agencies, working across direct, brand and production, which it claims will help it achieve greater consistency.
Vodafone would not confirm exactly how many agencies are on its digital roster, but the figure is in double digits.
Agencies to be affected by the review include Sapient Nitro, Dare, Agency Republic and G2.
RFIs are being sent to UK-based agencies this week, with the process handled through the AAR.
Speaking to Campaign, Danielle Crook, director of brand marketing at Vodafone, said: "We have built some good relationships with agencies, but we want to get to the point were we have greater consistency, from production through to creative origination.
"There is fantastic digital work going on in the marketplace, and we have evolved our digital agency landscape without taking a step back, optimising it, and looking if there is anything we have missed out on. This is coupled with the fact the roster has grown to too many agencies."
Vodafone has not decided what the future structure of its digital business will be, and whether it will appoint a roster of agencies or one single agency to handle the business.
This review is separate to the Vodafone Group pan-European review, revealed in Campaign last month.
Earlier this year, Vodafone introduced the Star Wars character Yoda into its advertising, and rolled out the latest instalment of the campaign last month.Follow @shearmans
This article was first published on campaignlive.co.uk
- Deputy Creative Director - Integrated/shopper agency The Industry Club London Ltd £75,000, London (Greater)
- Communications Manager Three £Competitive + 20% bonus + benefits, Maidenhead, Berkshire
- Head of Development, Digital and Communications Sound and Music £45,000, London (Central), London (Greater)
- Senior Designer Blue Skies Marketing Recruitment £35000 - £45000 per annum, London (Greater)
- Account Director Direct Recruitment £43,000 - £46,000, London (Central), London (Greater)
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They don't know how they are going to do it, but it is a bold promise.
The shipping industry has been in terrible shape for years, with far too much capacity, declining income and more expensive fuel. Many shipping companies are going bankrupt or getting bought out, often by Maersk, the world's largest container shipping company. Maersk is not just looking ahead to 2020 when bunker fuel is banned, but planning further ahead, to cut their carbon emissions to zero by 2050. According to Richard Milne in the Financial Times:
Maersk doesn't explain how they are going to do it; a few years ago we described their attempt at making fuel from algae. They are also looking at hydrogen, electricity, and wind.
“We will have to abandon fossil fuels. We will have to find a different type of fuel or a different way to power our assets. This is not just another cost-cutting exercise. It’s far from that. It’s an existential exercise, where we as a company need to set ourselves apart,” Soren Toft, Maersk’s chief operating officer, told the Financial Times.
Being a shipping company, they are not looking at another solution: reducing the number of shipping containers full of everything from recycled waste to plastic crap. One of the best ways to reduce pollution from shipping is to reduce the amount of shipping. But that is a whole other story.


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As we continue to analyze the COVID-19 responses by major timeshare resorts across the country, nothing said has been too surprising. At the same time, vacation owners are still left with their questions unanswered – some even feeling trapped in their agreements. Although Wyndham Hotels and Resorts was one of the first resorts to publish a statement, it didn’t provide much more information than the rest. On the last day of March, they announced that they were “forced to make incredibly difficult decisions that affect our entire Wyndham family.”
The more you begin to analyze these Coronavirus updates, the more you realize there is a common theme. It’s almost as if each company is seeking pity for the financial toll it’s taken on the business. When you think about it, timeshare owners aren’t exactly treated like family. Wyndham Hotels, in particular, has recently struggled to communicate this type of atmosphere. So if timeshare owners can’t reap the rewards of billion dollar earnings, why are they expected to endure the hardships as well?
It might even be fitting to ask if they’re even being offered a seat at the family table. History tells us timeshare owners have never had a say in resort decisions. The simple fact that most resorts are avoiding these realities – and the direct impact of timeshare contractsright now – while putting company losses on a pedestal is despicable. Although job loss is never good to hear, it’s discouraging to know that many families are directly hindered by timeshare fees during this pandemic. To some, every penny counts.
What Wyndham Discussed Regarding COVID-19.
According to the timeshare company’s statement, their cost cutting endeavors included layoffs, reduced work hours and salary reductions that impacted “nearly half” of their “2500 corporate teams members around the globe.” The announcement also explained how Wyndham Hotels and Resorts planned on using furloughs and property closures similar to other high profile brands. What made their public notice a little more elaborate than others was a verbal promise of goodwill by some of the company’s leaders.
President and CEO, Geoffrey A. Ballotti, told the press that he was planning on forgoing “100% of his salary” due to the impact of the Coronavirus. Wyndham’s board of directors also stated they were going to forgo all of their “cash compensation.” At the end of the day, there’s no way to tell if this will ever occur – or if it’ll actually impact the lifestyle of any of these wealthy businessmen. But it’s probably safe to say they’re going to be just fine now that less important people have been let go. Like most of their competitors, the message seems clear. Protecting equity is a priority.
Is Wyndham Actually Helping Franchisees and Interval Owners?
The COVID-19 response from Wyndham Hotels and Resorts went on to say, “We also know this is an incredibly challenging environment for our thousands of franchised hotel owners. To help them weather operational difficulties, we’ve taken a number of proactive measures around the world to support our franchisees during this challenging period.” It would be good to know the details of this “help” and if vacation owners can expectsimilar programs. Today, most buyers probably view ownership as a burden.
Although Wyndham earned more than $2 billion in 2019 alone, it appears they’re only willing to offer advice to vacation owners in the midst of the pandemic. “We’re also providing guidance and resources designed to help owners identify and, if appropriate, leverage government-sponsored programs that may help them and their businesses.” Are they offering financial assistance or even a helping hand to their owners though? So instead of reassuring timeshare owners in this press release in any kind of way, it seems like Wyndham is waiting on the government to step up.
Why not take care of your highest paying customers then pursue government relief on their behalf? This is a huge opportunity for timeshare companies to rejuvenate their market share. These resorts can’t really expect owners to remain compliant in the event that they can’t use what they paid for, can they? A willingness to only help distraught buyers seek federal aid so they can continue making payments doesn’t seem like the best course of action. Especially if they plan on penalizing them for walking away.
What About Wyndham Resort Safety in the Future?
At the end of the the day, the timeshare industry’s updates haven’t provided owners with much clarity. Financial relief isn’t buyer’s only concern. There has been almost nothing said about protecting guests in the future. While safety is recognized, a plan of action is rarely present. “While these are extraordinary times, we know they will pass. We remain confident in the strength and resiliency of our business and we are committed to the health and safety of our team members, owners and guests,” they said. If owners have a chance to use their week at some point in 2020, it would be nice to know the status of the environment they paid for.
Nonetheless, the timeshare industry doesn’t seem the least bit worried about the outcome. Maybe it’s because timeshare owners are still expected to foot the bill – for better or worse. But high expectations are usually the culprit of failed relationships. So will Wyndham recognize this? Will it be addressed?
The statement concluded with: “The travel industry will inevitably rebound, and when it does, Wyndham will be there, ready to welcome the everyday traveler to its approximately 9,300 hotels around the world.” They seem pretty confident that a financial rebound is on their horizon. So will vacation owners be able to say the same? It’ll be interesting to see how much maintenance and assessment fees are at the end of the year.
For months now, vacation owners have been waiting for answers regarding their timeshare contracts. In the meantime, resorts have been more concerned with promoting their losses. It’s almost as if they’re looking for pity because an unexpected event altered their fortunes. The thing is, many businesses experience unforeseen circumstances that hinder their cash flow. The ability to retain customers is key during this time. So when the biggest news story out of Westgate Resorts is that they had to furlough working class employees – or “people who were not needed” – it seemed a little odd. What about loyal vacation owners?
If you weren’t already aware, the timeshare industry generates billions of dollars per year. Westgate is actually one of the nation’s largest privately held firms. Anyone keen in business knows that hiring and training can be one of the biggest bottom line expenses. So, burning bridges with employees and staffing agencies after one week of being shut down seems a little drastic. At the same time, maybe it’s not that big of a deal. Maybe timeshare companies are simply proceeding to deflect vacation owner concerns by promoting that “we’re all in this together.”
Let us not forget that many timeshare owners have lost their paid vacation this year. Some have even been told that they didn’t cancel far enough in advance. So their paid week was voided. It’s obvious that there is some confusion and concern here. So why aren’t resorts addressing this or offering any type of reassurance? What happens when a majority of owners refuse to adhere to their contractual obligation? If this actually transpires, what will Westgate Resorts do to deflect the blame?
Westgate President Appears to be Deflecting Responsibility.
A few months ago, the resort’s current president, founder and CEO, David Siegel, had this to say about their latest decisions. “Our resorts are shut down, so we had to [furlough.] But we are trying to get money from the government to bring them back.” But according to the Orlando Business Journal, Siegel mentioned “the coronavirus impact on travel” as the primary reason for layoffs.
So, did Westgate need to let go of “non-essential employees” because they were losing too much money or because the government hasn’t helped them enough? Another published article stated that Westgate did, in fact, receive coronavirus relief money from the federal government. Supposedly, they’ve pursued travel bloggers to promote their resorts with these funds. It appears that Westgate has some explaining to do.
Is Westgate Really Doing What’s Best?
Siegel added even more context by saying, “If you are not renting rooms, you don’t need people to clean rooms. If you are not running the spas, you don’t need technicians.” In other words, it could be said that these positions aren’t valued by the chain. With that being said, how is Westgate preparing to reopen?
What are they going to do to ensure COVID-19 doesn’t spread in their hotels and condos? Are vacation owners safe? Since most of Westgate’s furloughs affected resort operations (housekeeping and daily guest services), it seems as though they’re not actually preparing for anything. In the meantime, owners are beginning to feel trapped in their agreements!
Was an Essential-Worker Furlough Necessary?
When asked, Siegel wasn’t even sure how many of his employees were affected. He was adamant that it wasn’t his fault, in our opinion it appears there is zero sense of compassion for the workers. A yearning for justification is evident. Even though he praised the federal government for “providing additional unemployment benefits to all Americans,” his statements don’t appear to be aligning with the resort’s actions. Apparently, taxpayers are supposed to care for essential Westgate employees during closings – Even though the company made $1.3 billion dollars in 2018.
Are timeshare companies punishing their employees and owners for the government’s travel ban? Are these types of strategies really what they seem? Even though Westgate says they’re just doing their “part to reduce the spread of the COVID-19 virus” – it sure is creating a lot of devastation for lower income families. According to the Orlando Business Journal, Westgate is said to have over 5K local workers and around 7,600 across the world.
Many of the workers in the timeshare industry have been left reeling ever since the layoffs – along with a number of timeshare owners facing hardship. At the end of the day, did Westgate Resorts really have to furlough working class employees to save the business? Or are they simply trying to keep margins as high as they can through a global pandemic? If you were to ask us, there’s a bigger story here.
As our country’s lockdown progresses, more timeshare companies are publishing news releases to speak on the impact of the Coronavirus. No matter who we’ve covered over the past few weeks, all resorts seem to be singing the same tune. The Hyatt Residence Club is the latest conglomerate to promote patience and appears to be pointing blame at the government for induced inconveniences. In the meantime, vacation owners are waiting in limbo for answers on how they’re to use their expensive interval in the future.
Even though the purchase may not have been a burden in the past, it most certainly can be viewed that way today. Millions of people are jobless and grounded and it’s only a matter of time before those experiencing hardship speak out. Expecting them to wait on something they’ve spent a lot of money on isn’t exactly realistic. But for whatever reason, timeshare companies continue insisting that owners should stop worrying and focus on “what’s most important right now.”
How Hyatt Residence Club is Following Suit.
Keep in mind, the above quote comes directly from a recent COVID-19 statement made by Hyatt Residence Club. Apparently, the obvious cost of ownership isn’t worth considering right now. It’s almost as if buyers are supposed to accept that the perpetual agreement they signed gives them no choice but to adhere. While it’s nearly impossible to speak on all timeshare contracts, we do find it hard to believe that most are binding during a global travel ban and resort closings. So why is there no wiggle room here?
When you take the time to assess the strategies behind the timeshare industry, you’ll quickly realize that decisions rarely benefit timeshare owners. Whether it be an increase in maintenance fees or unexpected assessment charges, resorts clearly have an agenda: To make a lot of money. Vacation ownership is one of the easiest ways for them to guarantee income. Binding contracts always allow them to spread out costs or losses so their obligations remain low.
Timeshare Companies Want to Avoid Complaints.
To resorts, vacation ownership only becomes a hindrance when a majority of buyers complain. This is why they usually downplay disappointment or concern and blame other factors for the poor experience. Hyatt’s opening statement regarding COVID-19 clearly avoids the financial strain their agreements could be causing.
It says, “We understand you have a lot on your mind. You’re facing unprecedented disruptions to your day-to-day life — and your vacations.” Instead of acknowledging that the customer’s primary concern is the cost of ownership (and no return), they’d rather distract and deflect. The intent of this introduction is to establish a sense of understanding or empathy and is followed up by an attempt to garner trust.
“We are here to help, with the most current information on reservation flexibility.” But if you really read between the lines here, information is the only guarantee. It seems like Hyatt Residence Club believes this is all they owe timeshare owners. Their promise is to provide up-to-date information regarding the “Novel COVID Virus.” Nothing in the publication actually communicates a plan to aid their primary customer with relief, rewards, benefits or any type of restitution. They simply ask for patience.
Are Hyatt Cancellation Policies Really Altered?
While the response is quite vague, Hyatt Residence Club did mention adjustments to their cancellation policy* (see below). This is something other resorts have yet to address. Truth be told, many timeshare owners have been penalized for untimely reservation cancellations while quarantined – waiving their right to use the property in 2020. Although it’s refreshing to see an olive branch being extended for those stuck at home, we’re still not sure what this actually entails (as a login is required).
What’s Really Important to Hyatt Residence Club?
No matter what Hyatt thinks, telling timeshare owners to “pause now [and] play later” probably won’t sit too well with most. Even though resorts are losing money, those that were looking forward to a vacation (that they already paid for) can’t be too happy. But if you’re a Hyatt Residence Club owner, the resort only wants you to focus on, “taking care of yourself and those closest to you,” right now.
But what if you need to get out of a timeshare in order to do so? What if the financial burden isn’t allowing you to focus on important things – like your family? These are all questions owners shouldn’t have to ask. Listen, nobody thought a global lockdown would last this long, but buyers shouldn’t be forced to foot the bill.
How Long Will Timeshare Owners Wait For Answers?
At the end of the day, timeshare companies are fully aware of the hindrance their perpetual agreements cause. Unfortunately, it seems as though most are content with blaming the outbreak, government, CDC, W.H.O. and the timeshare owners themselves for the current hardship they may be enduring.
The longer they’re able to buy themselves time and keep owners in limbo, the better the outcome will be – for them. It’s why their salutations include stuff like “we’re in this together,” when it’s not even close. In the meantime, Hyatt Residence Club (and the timeshare industry as a whole) could easily debunk this with adequate updates that actually address the current concerns of many timeshare owners. We’ve heard from plenty over the past few months.
Maybe ARDA could even take the time to shed light on anything that timeshare owners would find valuable. After all, they claim to represent more than 1.5 million timeshare owners. Since vacation owners pay them a fee alongside maintenance costs, it would seem they’d be inclined to keep owners informed. It can’t be easy to make payments if you’re struggling financially from COVID-19.
What Should Owners Ask and What Can They Do?
Many questions remain unanswered. Will Hyatt Residence Club reimburse the annual dues of those that couldn’t use their timeshare? Will they free up the inventory that’s sold to Expedia and Priceline for their owners? Or will they continue to profit off the general public, making it even more difficult to find availability? How are they ensuring the timeshare offers a safe environment when an approved cure for COVID-19 doesn’t exist?
While we wait for the industry to respond accordingly, we urge vacation owners to publicly share any information that might help somebody else. If you’re a Hyatt Residence Club member and you’re not sure “what your vacations are about” anymore than we’re always available for a free consultation.
In the beginning stages of the Coronavirus outbreak, Americans weren’t too worried by the idea of a pandemic. Mixed signals from the media, governments and health organizations didn’t help. Once New York was bombarded with new cases, people started to take notice. In the meantime, timeshares have been buying themselves time while ignoring the concern of vacation owners. But resorts can’t expect their highest paying customers to wait in silence much longer.
Are Vacation Owners Starting to Lose Patience?
One Marriott timeshare owner is already seeking help online. By the end of March, he became so fed up with the way the hotel chain was managing his timeshare that he posted a “rant” on The Business Traveler to let out some steam. Although his opening statement included an apology for publishing a personal topic in a business forum, he felt as though his issue with Marriott was similar to other threads.
Several users on the site had already complained about the issues they were having with “airlines and hotel groups” during the Coronavirus outbreak. So the Marriott timeshare owner wanted to see if there was anyone else out there experiencing similar inconveniences. In his post, he did a good job painting a picture of his disappointment after years of loyalty.
Apparently, he and his wife have spent tens of thousands of dollars on “several timeshare-like arrangements with the Marriott Group in Phuket.” Over the years they’ve also been required to pay thousands of dollars towards annualmaintenance fees on multiple contracts. They each have one in their name and own another jointly. It’s obvious why he mentions these things right off the bat. No Marriott timeshare owner should have to pay this much money for something they can’t use.
The Marriott Timeshare Owner’s Story.
After making an Easter reservation at their home resort in Phuket several months in advance, the couple was eventually notified that they wouldn’t be able to use their timeshare week. The “quarantine requirements imposed by Thailand” made it “impossible.” According to the Marriott timeshare owner, they tried for weeks to move their interval to September without prevail.
Not only did Marriott refuse their owner’s request and deny restitution, but they advised them to pay for an exchange company – in order to try to use it. But this concerned the author of the post. He knew that paying more and hoping for the best would probably have the same outcome. “They have lost so much goodwill over this,” he said. “We can’t get a refund because we already own the week.. they are just expecting us to pay an additional fee with no guarantee of getting anything in return, or forfeit our week.”
Sounds like a sweet deal. They can’t be the only Marriott timeshare owner experiencing this right now. Sadly, many probably took the bait and now wish they hadn’t. It’s safe to say many more will give it a shot too. So what are they to do if this worsens their situation? Will timeshare companies provide refunds for contractual travel purchases that occur during a pandemic? It’s hard to tell, but this Marriott timeshare owner is definitely disappointed.
Will Timeshare Inconveniences Ever Be Resolved?
The author went on to say, “One would have thought that in these circumstances Marriott Vacation Club would show a bit of flexibility. We have been members for many years and only want to move our booking to another week later this year when, we hope, travel restrictions have been relaxed,” he said. All he wants to do is reschedule his vacation in confidence. He’s not even looking to cancel the timeshare contract but the response from Marriott may cause him to second-guessing his loyalty.
If these types of emotions are felt by satisfied timeshare owners then how do those that despise the Marriott interval feel? Timeshare companies extending a helping hand during the pandemic has got to be the hope of millions of timeshare owners right now. At the same time, how will the industry handle so many inconveniences and will complaints be properly addressed?
Either way, the true colors of timeshare companies are beginning to shine through. The author closes out his rant with a dash of disgust and subtle plea for help. “The idiocy of this is that if we forfeit the week, they lose the revenue they would have earned if we were in the resort. The stupidity of this situation just infuriates me,” he said. “They are ultimately losing potential revenue and pissing off a loyal customer. What is the sense of that?”
His guess is as good as ours but it probably has a lot to do with money.
For more than a month, the entire country has been patiently waiting for the Coronavirus to run its course. As more time passes, restlessness increases. While it may be difficult to know what the aftermath of the pandemic will bring for timeshare owners, it’s safe to say resorts are hoping things return to normal sooner than later. The longer paid travelers are forced to stay home, the more likely they’ll be looking for some sort of restitution. But will they get it?
At this point in time, it’s hard to tell what will transpire down the road. A majority of timeshare resorts have been rather quiet during this international lockdown. Even those that have spoke on the pandemic have been rather vague regarding timeshare ownership. Diamond Resorts is the latest conglomerate to offer a COVID-19 update.
COVID-19 Update From Diamond Resorts.
The written statement on their website opened up by highlighting their current Coronavirus efforts. Diamond’s resorts “around the world” are stating they are housing “medical personnel and first responders” as they provide attention to those with the viral disease. They also took the time to comfort staff and team members while the doors are closed by publishing a link to a note from their CEO.
While it’s good to know that the company is aiding those in need, it’s interesting that they made sure to start with their contributions. But it’s not surprising. Most good sales organizations know how to create trustworthiness in order to buy time. If you’ve ever taken the time to assess the art of the timeshare presentation, or the sales process in general, you’ll see that all pitches begin with a focus on credibility.
So What Should Diamond Timeshare Owners Think?
Although the information Diamond provides is valuable, highlighting closings and links to CDC articles, it doesn’t exactly reassure their highest paying customers. The update concludes with an eerie reminder of the way timeshare companies persuade timeshare owners to remain under contract. They long to be trusted as it buys them time. It says. “At Diamond Resorts, we take pride in providing exceptional vacation experiences to everyone. Our teams are available to answer any questions. Thank you for your trust and support, and we look forward to welcoming you home soon.”
Nothing in the timeshare industry’s history books tells us they’re going to look to accommodate their owner’s inconveniences. COVID-19 updates from the industry such as this one doesn’t exactly encourage us to believe otherwise either. If you take the time to read the entirety of the statement, it goes on to explain how the resort plans to invest in “frequency and enhanced cleanings,” training courses on sanitation and an influx in disinfectant products.
It’s great they’re taking extra precautions but who’s paying for these things? Would timeshare owners see this as a benefit if they were to be held responsible for the added expense? While Diamond Resorts may be doing good by hosting the heroes of the pandemic, could the costs turn into maintenance fees or a special assessment? Is the resort hoping their genuine hospitality will discourage timeshare owners from complaining if they have to pay for something they don’t get to use?
It’s not for us to say, but it is concerning to see all of these timeshare companies sidestepping the disadvantages vacations owners will eventually face. Thousands of people have already had to cancel their plans. How will an influx in bookings play out when the economy reopens? Who will gain precedent? While Diamond’s COVID-19 update did provide temporary “reservation options,” it’s still unclear how it will all play out.
Diamond Timeshare Owners Will Just Have to Wait.
Today, the travel industry is experiencing a boat load of losses. For the average person, it’s hard to even wrap your head around the number of transactions that used to occur on a daily basis. Diamond makes it very clear throughout their article that government officials and health organizations are forcing them to shut their doors. A blockage of international travel is a problem for them as well. But there are also thousands of helpless timeshare owners out there that simply can’t afford the purchase any longer. Let’s hope Diamond sees this as well.
No matter where you’re surfing online, it’s nearly impossible to avoid any type of news about the coronavirus disease. Some people want stay at home orders in place while others demand that the government reopen the economy. While a few businesses may be thriving during the pandemic, many industries are losing millions of dollars daily. If you’ve read any of our recent articles, then you know the timeshare industry is “uniquely positioned” here. So when we heard Bluegreen Vacations downsized sales staff, we weren’t surprised.
Here is the statement from Alan B Levan, Bluegreen Vacations’ President, CEO and Chairman. “We remain committed to our owners and the future of Bluegreen and are taking these difficult necessary measures, which will adversely impact our associates and our business, only after careful consideration of the challenges we face and with a view to protecting the long-term best interests of our associates, owners and our company. We look forward to the end of this global crisis and the reestablishment of our full business operations.”
Will Laying Off Sales Staff Really Hurt Bluegreen?
At the end of the day, the prominent resort chain still hasn’t specifically communicated a plan to aid vacation owners during this economic crisis. Because of this, we have to assume that payment obligations will resume. But don’t worry, the resort has a plan to ensure they don’t go under during this pandemic. While you, as a timeshare owner, might struggle tremendously, the resort will be available for use once the economy reopens.
Levan went on to say they’ve been forced to shut down transfer programs at Choice Hotels amongst other things. “The COVID-19 pandemic is an unprecedented event in the United States and globally, and the domino effect has directly impacted Bluegreen’s sales and operations,” he said. According to other press releases, the Florida-based conglomerate (NYSE: BXG) has also closed most sales kiosks in retail centers like Cabelas and Bass Pro Shops.
When you think about it, is the downsizing of timeshare sales staff really a bad thing? Many buyers credit misleading sales practices for their grief. Levan makes it pretty clear what Bluegreen’s goal is. They want to end the loss for everyone and eventually reestablish their hard working sales teams. So should vacation owners anticipate enduring some loss too?
Bluegreen Vacations experienced an increase in timeshare sales through February (16.5%) and are now in a “unique position” to collect payments while eliminating their biggest cost.
Bluegreen Still Needs to Answer Some Questions.
What happens if new buyers – those that just took out a huge, perpetual loan on February 26th – are now unable to pay? Will there be any rule changes or temporary exceptions for those that have yet to use the property? Over the next few months, will Bluegreen count on timeshare payments and maintenance fees to sustain? Is a future vacation what struggling Americans should be striving for right now? While Bluegreen does an admirable job seeking sorrow for their losses, they’re not exactly suffering like most operations.
Either way, there are at least 220K Bluegreen owners out there (2019 data) that may not be able to use or afford the sneaky-expensive-product during a hardship. This isn’t even including those that signed up in the last 6 months. In comparison, Bluegreen is said to have just under 6K total employees, 3,300 of which are sales teams. Just because Bluegreen Vacations downsized sales staff doesn’t mean they’re hurting. On March 19th, they drew down $60 million out of a $125 million revolving credit facility and had $240 million cash on hand by March 30.
Although the travel industry is at a stand still, Bluegreen Vacations – like others – has set themselves up nicely to endure a recession. This is what makes the timeshare sales model so concerning. No matter what happens to the resort, country or destination; the industry can always lean on their owners. That contract you signed almost always keeps it that way. If you’re concerned about your future as a timeshare owner, we’d be more than happy to listen.


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GamePop Promises iPhone Gaming on Your TV — Without Apple’s Blessing
GamePop, an upcoming game console with a Netflix-like subscription model, has another trick up its sleeve.
In addition to playing Android-based games on televisions, GamePop will also be able to run games made for Apple’s iPhone and iPad. BlueStacks, the company behind GamePop, says it has its own mobile-to-TV technology called “Looking Glass” that makes big-screen iOS gaming possible.
BlueStacks announced the GamePop console and game controller last month, though they won’t be shipping until this winter. The hardware itself will eventually cost $129, but for now the company is giving away the console and controller if you sign up for a year of all-you-can-eat gaming, priced at $6.99 per month (or $84 total).
As I wrote before, the challenge for GamePop will be to prove the value of its mobile game subscription. Many mobile games these days are either free-to-play or dirt-cheap, so although BlueStacks is promising a…
View original post 265 more words


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Chinese electric vehicle maker BYD has told its Indian joint-venture partner that it will shelve a $1 billion investment in an electric car factory as its proposal faces politically biased scrutiny from New Delhi, citing so-called "security" concerns, Reuters re-ported on Friday.
Chinese experts view the development as an indication of the worsening investment environment in India, which could tarnish India's economic development.
According to the Reuters report, BYD executives told Megha Engineering that the major electric vehicle maker wanted to drop pursuit of the investment after Indian regulators rejected the two companies' proposal to build a joint factory.
During the initial review, officials from three Indian ministries, including finance and external affairs, raised what two Indian officials described as "security concerns" about Chinese investment and signaled their opposition.
As of press time, BYD had refused to comment on the issue to the Global Times.
Experts said that if BYD withdraws its investment plan, it will be a loss for the Indian auto sector. As India is at a crucial stage of accelerating the development of its automotive manufacturing, missing out on Chinese companies' participation would be detrimental to India's auto sector growth.
Zhang Xiang, visiting professor at the Engineering Department of Huanghe Science and Technology University, told the Global Times on Sunday that if India loses the opportunity to cooperate with BYD, the world's largest electric vehicle company, it will lose an important partner and lag behind in global automotive manufacturing.
BYD's halting investment decision also reflects the rising disappointment of Chinese companies toward the investment environment in India.
In recent years, New Delhi has kept blocking Chinese companies operating in India, particularly in the smartphone sector.
On June 13, the Economic Times reported that the Indian government had asked Chinese mobile phone makers to place Indians to key positions, such as chief executive officer, chief operating officer, chief financial officer and chief technical officer.
Experts believe that India's suppression of Chinese companies has become increasingly evident in recent years, which will only further damage India's image and reputation, and deter foreign investors.
Chinese companies like BYD and Xiaomi investing and establishing factories in India would bring advanced technology and managerial skills, which also contribute to India's GDP while creating local jobs, Zhang said.
Putting up barriers to Chinese companies in India will only result in a loss of investment opportunities and force them to withdraw from Indian market, ultimately harming Indian economy, Zhang noted.
Foreign direct investment inflows into the country fell 16 percent to $71 billion in fiscal year 2022-23, marking the first decline in a decade, the Times of India reported.
On July 14, Wang Yi, Politburo member and director of the Office of the Central Commission for Foreign Affairs expressed deep concern over recent restrictive measures imposed by India on Chinese companies during a meeting with Indian External Affairs Minister Subrahmanyam Jaishankar. Wang urged India to provide a fair, transparent and non-discriminatory business environment for Chinese companies.


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Arcatron had already launched Sponsored Video campaigns, but their growth and reach seemed to have stunted. They wanted to bring about a marked increase in their sales growth and reach a wider audience.
So they decided to partner up with SellerApp(www.sellerapp.com) in May 2021 to make use of Machine Learning-powered data intelligence tools. Their goal was to optimize Sponsored ads to scale-up revenue for the Amazon India Marketplace. They also wanted to launch their products in the US Marketplace and other geographies.


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Foursquare has retail chains and agencies on its mind more than ever, as it announced a new merchant API today aimed at their interests. In a blog post, the location-based app company briefly described the upgrades to its Merchant API, which will now allow businesses to utilize their own technologies while creating Specials on the platform.
The blog reads: “It works like any API – you can build the tools that are right for you. So, for instance, without having to log on to foursquare.com, you can go to your existing business dashboard and edit your Specials.”
While the details are scant, the New York-based company said local directory sites Yext, Patch, CityGrid, and YP.com – as well as pay-per-click software firm Clickable – are “integrating” Foursquare into their tool kits. As one possible example, it’s plausible that the directories will allow local merchants to create Foursquare Specials on their businesses pages.
Meanwhile, Foursquare seems to still be missing a bigger monetization strategy as it evolves into a serious marketing platform. Yesterday, it began syndicating deals from LivingSocial, Gilt City, AT&T Interactive, BuyWithMe, and Zozi. Foursquare users – there are around 10 million now – will be targeted by their check-in histories, time of day, and current location. The effort is running in the U.S., U.K., Ireland, Canada, Australia, and New Zealand.
The share of sales revenue Foursquare will get from the aggregated deals – if any – hasn’t been revealed. While the geo-social firm last month landed $50 million in funding, during the next several months, industry pundits will no doubt be watching for how it will attempt to create revenue streams.
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Hyundai Verna vs Ford Fiesta
It’s quite a predicament, this. On one hand, we have the best-selling sedan in its division (over the last couple of years) from Hyundai, and on the other, a rejuvenated drivers’ delight from Ford, post a cosmetic nip and a price tuck. Both these cars have received a bunch of cosmetic changes and minimal mechanical alterations. But now, Ford appears to have made the cost of owning a Fiesta actually worth a second thought. Read on to find out if this bold move will cause a change in the segments’ tide which currently flows in favour of the Hyundai Verna.


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IDEX Istanbul Exhibition, the only international trade fair of the oral and dental health field, is hosting buyer delegations from 75 countries including Europe, Africa, the Balkans, the Gulf States, CIS, and the Middle East.
Organized for the 16th time, IDEX İstanbul Exhibition presents numerous new technologies ranging from painless anesthesia to pain treatment during implant procedures, from preventing swelling and bruising to denture insertion in a single visit.
The 16th Istanbul Oral-Dental Health, Equipment and Materials Exhibition (IDEX Istanbul) presenting new technologies that will end pain and fear in dental treatments has opened its doors at CNR EXPO Yeşilköy. The exhibition will stay open until April 14 showcasing many more new technologies ranging from painless anesthesia to pain treatment during implant procedures, from preventing swelling and bruising to denture insertion in a single visit. IDEX, one of the three largest trade fairs in its field in the region, takes place on 30 thousand square meters area with the participation of 300 companies. Organized by CNR Holding company, Pozitif Trade Fairs in collaboration with the Turkish Dental Businessmen Association (DİŞSİAD), IDEX İstanbul is the only international event of the Turkish dental industry. Buyer delegations coming within the scope of B2B Matchmaking Programme from 75 countries including Europe, the Balkans, the Gulf Countries, Africa, CIS, and the Middle East get together with the exhibiting companies.
Foreign companies make 75% of all exhibitors
Speaking at the opening of the exhibition, CNR Holding CEO Ali Bulut said that IDEX Istanbul Trade Fairs, where 75% of the participants were companies from abroad, holds the record on the highest international participation rate among all the trade fairs organized in Turkey. Emphasizing that the size of the oral and dental health industry was close to 1 billion dollars, Bulut added, "The total exports of medical, oral and dental health and pharmaceutical sectors of our country combined is over 2 billion dollars. We will work harder to make IDEX one of the top two exhibitions in the world in 2020."
The exhibition is expected to create a 150 million dollars trade volume
Stating that there were nearly 100 domestic manufacturers in the industry, DİŞSİAD President Ali Çakır said, "Dental treatment market is growing fast. In addition to National participation of Brazil, Taiwan, Pakistan, China and Korea this year, we have individual participants from 7 different countries. Last year IDEX Istanbul had 100 million dollars of trade volume. This year we aim to increase it to 150 million dollars."
Recep Uslu, the Vice President of Turkish Medicine and Medical Devices Agency (TİTCK), shared his impressions on the exhibition as follows, "The top 5 countries we import from are Germany, USA, Switzerland, China and Italy whereas we export the most products to Germany, France, the Netherlands, Iraq, and Cyprus."
Ali Çakır, DİŞSİAD Chairman, Muharrem Değerli, Istanbul General Tooth Prothesis Technicians and Artisans Chamber (İDTO) Chairman, Celal Korkut Yıldırım, Turkish Dental Association (TDB) President, and Recep Uslu Turkish Medicine and Medical Devices Agency (TİTCK) Vice President participated at the opening of İDEX İstanbul Exhibition hosted by CNR Holding Chairwoman Ceyda Erem. The exhibition organized to draw attention to the preventative field in dental health will last until April 14 and can be visited between 10:00 to 19:00.


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Saputo Inc (SAP.TO)
21 Mar 2018
Tue, Mar 6 2018
* SAPUTO ADVISED CO THAT SAPUTO LODGED PROPOSED UNDERTAKING WITH ACCC REGARDING DIVESTMENT PLAN FOR KOROIT DAIRY PLANT
SYDNEY Canada's Saputo Inc said on Monday it is discussing plans to sell a milk plant in Victoria state to address concerns from Australia's competition watchdog about its buyout of Murray Goulburn Co-operative.
* Murray Goulburn wants a lifeline after China expansion failure (Updates shares, adds pictures)
SYDNEY, March 5 Canada's Saputo Inc said on Monday it is discussing plans to sell a milk plant in Victoria state in order to address concerns from Australia's competition watchdog about its buyout of Murray Goulburn Co-operative.
SYDNEY Australia's competition regulator has raised concerns about a planned $1.0 billion takeover of Murray Goulburn Co-operative by Canada's Saputo Inc , threatening a deal Australia's largest dairy processor says is key to its survival.
* Saputo may have to cave out dairy plant - analysts (Recasts, adds details, quote from analyst)
March 1 Australia's competition watchdog on Thursday raised concerns about Saputo Inc's proposed buy-out of dairy firm Murray Goulburn Co-operative relating to reduced competition for farmers' milk in one area of Victoria state.
March 1 Australian Competition and Consumer Commission:
* FINANCIAL RESULTS FOR FISCAL 2018 THIRD QUARTER ENDED DECEMBER 31, 2017
* Saputo announces the renewal of its normal course issuer bid
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While some observers see Amazon.com Inc.’s plan to acquire Whole Foods Market Inc. as an offensive move into grocery, it may actually be a defensive move in an area where Wal-Mart Stores Inc. dominates, some experts argue.
Yruma owns stock in Whole Foods.
Wal-Mart acquired Jet.com in August 2016 for more than $3 billion. Since then, the retail giant has acquired a number of other sites, including women’s clothing retailer ModCloth and, just announced in recent weeks, men’s clothing retailer Bonobos. And as a strategy change, Wal-Mart began offering discounts for some online orders that are picked up in-store and launched free two-day shipping after ending its ShippingPass pilot program. In fact, Amazon
In its latest earnings release, Wal-Mart reported a 63% increase in Walmart U.S.’s e-commerce sales. On the media call, Marc Lore, chief executive of Walmart e-commerce U.S., said the growth was driven by two-day shipping, what he called “easy re-order,” and a larger online assortment, put at about 50 million items as of May.
“We are seeing that customers are placing more orders, they are coming back more often and spending more, so we are really happy with that progress,” he said.
Grocery is an area where Wal-Mart dominates, snapping up 14.45% of the U.S. food and grocery market in 2016, according to data provided by GlobalData Retail. Amazon only had 0.19%.
“I don’t think Wal-Mart is trembling at all,” said Christian Magoon, CEO of Amplify ETFs, the company behind a number of ETFs including the Amplify Online Retail ETF
Instead, what might cause some concern are Whole Foods’ 400-plus stores.
“That starts to encroach on Wal-Mart’s foothold,” said Magoon. “How Amazon dominates e-commerce, Wal-Mart dominates bricks-and-mortar.”
“By going upmarket in acquiring Whole Foods, this will have more of an impact on Target and Costco than if they had gone after Kroger, for instance, which would have more directly affected Wal-Mart,” said ConsumerEdge Research in a Friday note.
Amazon’s more affluent customer overlap with Target and Target’s struggles with its grocery business makes this bad news for them. “[I]n our view, Target should use today’s news to substantially accelerate its investments in price/grocery/store experience/e-commerce,” Gordon Haskett Research Advisors said.
They said it’s too soon to tell what sort of impact this will have on Wal-Mart, but they think “should Amazon choose to rapidly grow 365 [Whole Foods’ lower-priced brand] and/or acquire other players… such development would bode poorly for Wal-Mart.”
UBS thinks there’s uncertainty, but Costco probably isn’t in danger. They agree this could be a hurdle for Target.
“Costco’s limited assortment, low cost structure, and deep private label penetration probably means its fortunes will be preserved, at least for the foreseeable future,” analysts wrote in a recent note. “We consider it to be a negative read for Target, as it could further complicate its efforts to gain traction creating a stronger, better-for-you good offering in its stores.”
UBS said it is placing its Whole Foods rating and price target under review.
Amazon shares are up 30.1% for the year so far, with Whole Foods shares up 37.1% for the period. The S&P 500 index


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One of the largest luxury brand conglomerates in the world is preparing to release a new vintage of wine out of China later this year. Executives at Moët Hennessy (LVMH) have said they hope their new Ao Yun (奥云) Cabernet Sauvignon, which is produced entirely in northwest Yunnan, will be "the best-quality red wine in China".
Although little-known to many, the region of Yunnan now known as Shangri-la — especially Deqin County (德钦县) — has long been a grape-growing one. More than 150 years ago, Jesuit missionaries from France introduced a honey rose strain of Cabernet grapes to the area, where they have been cultivated on a small scale ever since.
The long, if limited, history of viniculture in the province's northwest is part of what first attracted the interest of LVMH producers. They will not be using the honey rose varietal in their new vintage, but without the tradition of wine-making in places such as Deqin, few would have believed that French grapes rarely grown at elevations above a few hundred meters could thrive on Chinese mountain slopes soaring to 2,600 meters in height.
Instead, Ao Yun is made from other imported appellations. Moët Hennessy Estates and Wines president Jean-Guillaume Prats recently told website Decanter the process has been full of trial and error:
We spent four years searching for the right location for quality red wine in China. There are many logistical challenges to producing in this remote mountainous region, but the long growing season and dry sunny autumns [produce] thick-skinned, small berries with concentration and freshness.
The vineyards in Deqin are fairly small, comprising a total of 30 hectares spread over four local villages. They are 66 percent owned by the French conglomerate and 33 percent by VATS Group, a Chinese wine and spirits company. In addition to its investment in the grape-growing areas, LVMH reportedly sunk 120 million yuan (US$19.3 million) into a nearby fermentation facility and upscale lodge for visiting connoisseurs.
The international launch of Ao Yun — which its bottlers translate as 'sacred cloud' — is expected to occur in October of this year. However, Chinese aficionados, who are projected to purchase more wine than consumers in any other country by 2016, must wait until early next year to purchase bottles of China's newest and most exotic wine.
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